The smart agriculture market is expected to grow from USD 5.18 Billion in 2016 to USD 11.23 Billion by 2022, at a CAGR of 13.27% between 2017 and 2022. This report provides the market size and future growth potential of the smart agriculture market across different segments such as agriculture type, offering, application, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the smart agriculture market. This report also profiles the key players operating in the smart agriculture market. The increasing focus on farm-efficiency and productivity is expected to propel the growth of the smart agriculture market. The base year considered for the study is 2016, and the market size forecast is provided for the period between 2017 and 2022.

The research methodology used to estimate and forecast the smart agriculture market begins with capturing data on key vendor revenues through secondary research. Some of the secondary sources include associations such as European GNSS Agency (GSA) (Czech Republic), International Society for Precision Agriculture (ISPA) (U.S.), Precision Ag Institute (U.S.), SPAA Precision Agriculture (Australia), CropLife (CropLife Media Group) (U.S.), Precision Agriculture Association (New Zealand), and Agricultural Research Organization (Israel). The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the size of the smart agriculture market from the revenue of the key players in this market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary respondents has been depicted in the following figure.

The smart agriculture market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. The smart agriculture market has been segmented on the basis of agriculture type, offering, application, and geography, as follows:

By Agriculture Type

Precision Farming

Livestock Monitoring

Fish Farming

Smart Greenhouses

Others (Orchid, Forestry, and Horticulture)

By Offering

Hardware

Hardware for Precision Farming Market

Automation and Control Systems

Sensing and Monitoring Systems

Hardware for Livestock Monitoring Markets

RFID Tags & Readers

Sensors

Transmitters & Mounting Equipment

GPS

Others

Hardware for Fish Farming Market

GPS/GNSS

Sensors

Others

Hardware for Smart Greenhouses Market

HVAC Systems

LED Grow Lights

Sensors

Others

Hardware for Others Market

Software

Local/Web Based

Cloud Based

Software as a Service (SaaS)

Platform as a Service (PaaS)

Services

System Integration & Consulting

Managed Services

Connectivity Services

Assisted Professional Services

Maintenance and Support

By Application

Precision Farming Applications

Livestock Monitoring Applications

Fish Farming Applications

Smart Greenhouse Applications

Others (Orchid, Forestry, and Horticulture)

By Geography

Americas

Europe

APAC

RoW

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Figure 1 Smart Agriculture Market: Research DesignFigure 2 Market Size Estimation Methodology: Bottom-Up ApproachFigure 3 Market Size Estimation Methodology: Top-Down ApproachFigure 4 Data TriangulationFigure 5 Precision Farming to Hold the Largest Size of the Overall Smart Agriculture Market By 2022Figure 6 Smart Agriculture Market for Cloud-Based Software to Grow at A Higher Rate Between 2017 and 2022Figure 7 Smart Agriculture Market for Connectivity Services to Grow at the Highest Rate Between 2017 and 2022Figure 8 The Americas Held A Major Share of the Smart Agriculture Market in 2016Figure 9 Increasing Application of Technology in Agriculture is Expected to Create New Opportunities in the Smart Agriculture MarketFigure 10 Australia Held the Largest Share of the Smart Agriculture Market in APAC in 2016Figure 11 Smart Agriculture Market for Services to Grow at the Highest Rate Between 2017 and 2022Figure 12 Precision Farming Held the Largest Size of the Smart Agriculture Market in the Americas in 2016Figure 13 U.S. Held the Largest Share of the Smart Agriculture Market in 2016Figure 14 Evolution of Smart AgricultureFigure 15 Smart Agriculture Market: Drivers, Restraints, Opportunities, and ChallengesFigure 16 World Food Consumption in Kcal/Person/Day By 2030Figure 17 Factors Responsible for Not Using Smart Agriculture Techniques in the U.K., 2012Figure 18 Global Mobile Subscriber Base, 2009–2016 (USD Million)Figure 19 Value Chain Analysis: Smart Agriculture MarketFigure 20 Major Players in the Value ChainFigure 21 Increasing Use of M2M Solutions in Agriculture—The Leading Trend Among Key Market PlayersFigure 22 Porter’s Five Forces Analysis, 2016Figure 23 Smart Agriculture Market: Porter’s Five Forces Analysis, 2016Figure 24 High Impact of the Intensity of Competitive Rivalry on the Smart Agriculture MarketFigure 25 Low Impact of the Threat of Substitutes on the Smart Agriculture MarketFigure 26 Medium Impact of the Bargaining Power of Buyers on the Smart Agriculture MarketFigure 27 Medium Impact of the Bargaining Power of Suppliers on the Smart Agriculture MarketFigure 28 High Impact of the Threat of New Entrants on the Smart Agriculture MarketFigure 29 Smart Agriculture Market, By Agriculture TypeFigure 30 Precision Farming to Hold the Largest Size of the Smart Agriculture Market By 2022Figure 31 Market for Precision Farming in APAC to Grow at the Highest Rate Between 2017 and 2022Figure 32 Market for Livestock Monitoring in APAC to Grow at the Highest Rate Between 2017 and 2022Figure 33 Market for Fish Farming in APAC to Grow at the Highest Rate Between 2017 and 2022Figure 34 Europe Expected to Hold the Largest Size of the Market for Smart Greenhouse By 2022Figure 35 Smart Agriculture Market, By OfferingFigure 36 Smart Agriculture Market for Services to Grow at the Highest Rate Between 2017 and 2022Figure 37 Market for Drones/UAVS to Grow at the Highest Rate Between 2017 and 2022Figure 38 Yield Monitors is Expected to Hold the Largest Share of the Market for Precision Farming for Sensing and Monitoring Devices in 2017Figure 39 Market for Livestock Monitoring for GPS to Grow at the Highest Rate Between 2017 and 2022Figure 40 GPS/GNSS is Expected to Hold the Largest Share of the Market for Fish Farming for Hardware in 2017Figure 41 Market for Led Grow Lights to Grow at the Highest Rate Between 2017 and 2022Figure 42 Local/Web-Based Software Held the Largest Share of the Smart Agriculture Market for Software in 2016Figure 43 Smart Agriculture Market for Software in APAC to Grow at the Highest Rate Between 2017 and 2022Figure 44 Market for Connectivity Services to Grow at the Highest Rate Between 2017 and 2022Figure 45 The Americas to Hold the Largest Share of the Smart Agriculture Market for Services By 2022Figure 46 Smart Agriculture Market, By ApplicationFigure 47 Market for Weather Tracking & Forecasting Applications to Grow at the Highest Rate Between 2017 and 2022Figure 48 Market for Feeding Management Applications to Grow at the Highest Rate Between 2017 and 2022Figure 49 Fish Tracking and Fleet Navigation Applications to Hold the Largest Size of the Market for Fish Farming Applications Between 2017 and 2022Figure 50 Market for Yield Monitoring Applications to Grow at the Highest Rate Between 2017 and 2022Figure 51 Smart Agriculture Market, By GeographyFigure 52 Countries in the APAC Region is Expected to Grow at the Highest Rate During the Forecast PeriodFigure 53 The Americas: Smart Agriculture Market SnapshotFigure 54 U.S. Expected to Hold the Largest Share of the Smart Agriculture Market in North America in 2017Figure 55 Smart Agriculture Market in Argentina to Grow at the Highest Rate Between 2017 and 2022Figure 56 Europe: Smart Agriculture Market SnapshotFigure 57 Germany to Hold the Largest Share of the Smart Agriculture Market in Europe in 2017Figure 58 Asia Pacific: Smart Agriculture Market SnapshotFigure 59 Smart Agriculture Market in China to Grow at the Highest Rate Between 2017 and 2022Figure 60 Russia to Hold the Largest Share of the Smart Agriculture Market in RoW in 2017Figure 61 New Product Launches: Key Strategies Adopted By the Key Players Between 2013 and 2016Figure 62 Smart Agriculture Market Evaluation FrameworkFigure 63 Battle for Market Share: New Product Launches Emerged as the Key StrategyFigure 64 Geographic Revenue Mix of Major Market PlayersFigure 65 Deere & Company: Company SnapshotFigure 66 Deere & Company: SWOT AnalysisFigure 67 Trimble, Inc.: Company SnapshotFigure 68 Trimble, Inc.: SWOT AnalysisFigure 69 Raven Industries: Company SnapshotFigure 70 Raven Industries: SWOT AnalysisFigure 71 Agjunction, Inc.: Company SnapshotFigure 72 Agjunction, Inc.: SWOT AnalysisFigure 73 Agco Corporation: Company SnapshotFigure 74 Agco Corporation: SWOT AnalysisFigure 75 Delaval Corporation: Company SnapshotFigure 76 GEA Group AG: Company Snapshot

According to MarketsandMarkets’ forecast, the smart agriculture market, in terms of value, is expected to grow from USD 5.18 Billion in 2016 to USD 11.23 Billion by 2022, at a CAGR of 13.27% between 2017 and 2022. The major drivers for the smart griculture market include increasing application of technologies in agriculture, rising need of monitoring livestock performance and health, government’s support to adopt modern agricultural techniques, and increasing demand for food worldwide.

This report covers the smart agriculture market on the basis of agriculture type, offering, application, and geography. Precision farming applications are expected to hold a major share of the smart agriculture market between 2017 and 2022.

Smart agriculture tools are most widely used in precision farming as they play a vital role in improving farm efficiency and help growers in maximizing their crop yields. Yield monitoring is a major application of precision farming used to identify the field variability information, which includes weather conditions, soil properties, and fertilizers. Soil monitoring is a major application of yield monitoring, which helps to identify different soil parameters to maintain the nutrient level of the soil.

The market for drones/unmanned aerial vehicles (UAVs) is expected to grow at a significant rate between 2017 and 2022. The increasing adoption of drones by farmers, owing to their ease of use and affordability, is the major reason behind the high growth of this market. Moreover, several smart agriculture service providers are offering drones as part of their services, thereby driving the growth of the smart agriculture market for drones/UAVs.

The smart agriculture market for connectivity services is expected to grow at a high rate between 2017 and 2022. The smart agriculture market, on the basis of services, has been segmented into system integration & consulting services, managed services, connectivity services, assisted professional services, and maintenance and support services. The adoption rate of connectivity services is expected to be high compared to other services as in case of these services, information about crops, animal health, as well as about tractor guidance, among others, is collected at a device level and is transmitted through a network channel. The network channel is usually provided by the connectivity service providers that deliver proper connectivity between the device domain and the end users. The device domain typically comprises sensor monitoring systems, GPS/GNSS receivers, and guidance and steering systems, among others. The device domain is responsible for generating real-time data, which can assist the end users in making decisions.

The Americas accounted for a major share of the smart agriculture market in 2016, and the same trend is expected to follow during the forecast period as it is home to several players in the smart agriculture market such as Deere & Company (U.S.), Trimble, Inc. (U.S.), Raven Industries Inc. (U.S.), AgJunction, Inc. (U.S.), and AGCO Corporation (U.S.). In addition, the increasing demand for smart farming solutions is expected to drive the growth of the smart agriculture market in this region. Farmers or growers in this region are increasingly adopting advanced farming equipment and devices such as steering and guidance systems, various sensors, display devices, and farm software. The smart agriculture market in APAC is expected to grow at the highest rate between 2017 and 2022.

The major challenges faced by the companies in the smart agriculture market include the management of data for productive decision making and high initial investments. The major vendors in the smart agriculture market are Deere & Company (U.S.), Trimble, Inc. (U.S.), Raven Industries (U.S.), AgJunction, Inc. (U.S.), DeLaval Corporation (Sweden), and AGCO Corporation (U.S.), among others. These players adopt various strategies such as new product developments, mergers, partnerships, collaborations, and expansions to cater to the needs of their customers.

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